Consider the following information:

State of Economy Probability of State of Economy Rate of Return if State Occurs

Stock A Stock B Stock C

Boom $\mathrm{.}71\mathrm{.}09\mathrm{.}03\mathrm{.}29$

Bust $\mathrm{.}29\mathrm{.}18\mathrm{.}24\mathrm{.}09$

What is the expected return on an equally weighted portfolio of these three stocks?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

What is the variance of a portfolio invested $26$ percent each in A and B and $48$ percent in C$?$

Note: Do not round intermediate calculations and round your answer to $5$ decimal places, e$.$g$.,\mathrm{.}16161.$